Saab Family Foundation
- Assets
- $16.0m
- Revenue
- $331.4k
- Investments
- $14.8m
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 04/2013
- Data as of
- 12/2022
- EIN
- 27-4392768
Organization Overview
Saab Family Foundation is located in Lowell, MA. The organization was established in 2013. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saab Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Saab Family Foundation generated $331.4k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Saab Family Foundation has awarded 521 individual grants totaling $3,107,672. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO CHARITABLE ORGANIZATIONS IN THE LOWELL, MA AND SALEM, NH AREAS THAT PROVIDE ASSISTANCE TO LOW-INCOME INDIVIDUALS, YOUTH AND HOMELESS INDIVIDUALS.
HIGH SCHOOL AND COLLEGE SCHOLARSHIPS FOR DESERVING LOCAL YOUTH OF LIMITED ECONOMIC MEANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elisia M Saab Trustee, Chair, Treasurer | 1.6 | $0 | |
Mark A Saab Trustee | 1.6 | $0 | |
Analise S Brown Trustee | 1.6 | $0 | |
Tricia L Albert Trustee | 1.6 | $0 | |
Alana T Saab Trustee | 1.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,110 |
| Dividends & Interest | $415,256 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$87,041 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $32 |
| Total Revenue | $331,357 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,553 |
| Taxes | $18,536 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $132,662 |
| Total operating and administrative expenses | $159,807 |
| Contributions, gifts, grants paid | $957,815 |
| Total expenses and disbursements | $1,117,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,183 |
| Savings and temporary cash investments | $1,017,428 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,984,148 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $16,044,520 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Saab Family Foundation has awarded $957,815 in support to 148 organizations.
| Grant Recipient | Amount |
|---|---|
ALEXANDRIA FERGUSON PURPOSE: SCHOLARSHIP | $4,000 |
ALEXIS VITORINO PURPOSE: SCHOLARSHIP | $3,500 |
AALIYAH VERAS PURPOSE: SCHOLARSHIP | $2,000 |
ADA YU PURPOSE: SCHOLARSHIP | $4,000 |
AARON HOMEM PURPOSE: SCHOLARSHIP | $3,000 |
ALLISON CURRAN PURPOSE: SCHOLARSHIP | $1,000 |